Section 1031 Real Estate and Personal Property Exchanges
Posted in Newbridge Exchange, Relinquished Property Options on Nov 2nd, 2009
The Internal Revenue Code provides a variety of tax saving opportunities for savvy planners. For example, Section 1031 of the Code details tax deferred exchanges. Section 121 provides direction on the sale of a personal residence and the allowances for exclusion from tax. Guidance on how these two sections intersect and complement each other is [...]
Posted in Relinquished Property Options on Oct 20th, 2009
Added to the Internal Revenue Code in 1921, Section 1031 is the best planned escape from capital gains tax and recapture of depreciation ever conceived. There is no reason to pay any tax that can be deferred throughout your lifetime and it will not leave a burden for your heirs. The concept is a simple [...]
Posted in Personal Property Exchanges on Oct 5th, 2009
Section 1031 is well known for its advantageous tax deferral for the sale of business or investment use real property, it is less well known for its tax advantages for the sale of business use personal property. Trains, planes and automobiles are not just transportation modalities but are also classified as personal property eligible for [...]
Posted in Newbridge Exchange, Relinquished Property Options on Sep 21st, 2009
There are two types of real estate that can be sold with advantageous tax treatment, your primary residence and your business/investment property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence of the taxpayer for two of the preceding five years. Section 121 of the Internal [...]
